Kentucky Retirement Systems Insurance Trust Fund Has $453,000 Holdings in Akamai Technologies, Inc. (NASDAQ:AKAM)

Kentucky Retirement Systems Insurance Trust Fund lessened its position in shares of Akamai Technologies, Inc. (NASDAQ:AKAM) by 8.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,486 shares of the technology infrastructure company’s stock after selling 427 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Akamai Technologies were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of AKAM. Nicollet Investment Management Inc. boosted its stake in Akamai Technologies by 1.2% in the 3rd quarter. Nicollet Investment Management Inc. now owns 19,790 shares of the technology infrastructure company’s stock valued at $1,998,000 after buying an additional 238 shares in the last quarter. Empirical Finance LLC boosted its stake in Akamai Technologies by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 5,327 shares of the technology infrastructure company’s stock valued at $538,000 after buying an additional 103 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Akamai Technologies by 7.3% in the 3rd quarter. CIBC Asset Management Inc now owns 22,832 shares of the technology infrastructure company’s stock valued at $2,305,000 after buying an additional 1,562 shares in the last quarter. ING Groep NV boosted its stake in Akamai Technologies by 26.7% in the 3rd quarter. ING Groep NV now owns 16,965 shares of the technology infrastructure company’s stock valued at $1,713,000 after buying an additional 3,573 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its stake in Akamai Technologies by 4.3% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,536 shares of the technology infrastructure company’s stock valued at $458,000 after buying an additional 188 shares in the last quarter. Institutional investors and hedge funds own 94.28% of the company’s stock.

Insider Transactions at Akamai Technologies

In other news, EVP Paul C. Joseph sold 4,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $97.30, for a total transaction of $389,200.00. Following the completion of the transaction, the executive vice president now directly owns 30,703 shares of the company’s stock, valued at $2,987,401.90. This represents a 11.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director William Raymond Wagner sold 1,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $100.73, for a total value of $100,730.00. Following the transaction, the director now directly owns 16,719 shares of the company’s stock, valued at $1,684,104.87. This trade represents a 5.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,500 shares of company stock valued at $1,065,975 over the last three months. Company insiders own 2.00% of the company’s stock.

Akamai Technologies Stock Up 1.6 %

AKAM stock opened at $87.36 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a market capitalization of $13.12 billion, a P/E ratio of 25.85, a P/E/G ratio of 3.33 and a beta of 0.68. The business has a 50-day moving average of $99.51 and a 200-day moving average of $96.54. Akamai Technologies, Inc. has a fifty-two week low of $84.70 and a fifty-two week high of $129.17.

Wall Street Analyst Weigh In

AKAM has been the topic of a number of recent analyst reports. DA Davidson reissued a “buy” rating and issued a $115.00 price objective on shares of Akamai Technologies in a research note on Friday, August 9th. Guggenheim raised Akamai Technologies from a “neutral” rating to a “buy” rating and set a $128.00 price objective on the stock in a research note on Monday, July 29th. Tigress Financial reissued a “strong-buy” rating and issued a $140.00 price objective on shares of Akamai Technologies in a research note on Thursday, August 29th. Needham & Company LLC reissued a “hold” rating on shares of Akamai Technologies in a research note on Friday, August 9th. Finally, TD Cowen boosted their price objective on Akamai Technologies from $129.00 to $131.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $117.47.

Akamai Technologies Company Profile

Akamai Technologies, Inc provides cloud computing, security, and content delivery services in the United States and internationally. The company offers cloud solutions to keep infrastructure, websites, applications, application programming interfaces, and users safe from various cyberattacks and online threats while enhancing performance.